Sulla nozione di "finanziamento" ai fini dell’applicazione della regola di postergazione

This article is aimed at outlining the notion of “loan” for the purposes of the legal subordination imposed by Italian regulations concerning loans granted by shareholders in a critical situation of the company. Specifically, it examines the potential issues pertaining to special cases of financing such as: (i) the purchase by the shareholder of a credit granted by a third party lender, (ii) the decision of the shareholder to not terminate the loan when the company’s financial situation becomes negative (iii) the renegotiation of the terms and conditions of the loan.